Developments in the balance of travel services: August 2018

23/10/2018 - Press Releases

Balance of travel services

Based on provisional data, the balance of travel services showed a surplus of €3,436 million in August 2018, compared with a surplus of €3,388 million in the same month of 2017. More specifically, travel receipts in August 2018 rose by 1.4% to €3,604 million, from €3,553 million in August 2017, whereas travel payments increased by 1.6% (August 2018: €167 million, August 2017: €165 million). The rise in travel receipts was due to a 4.8% increase in inbound traveller flows, as average expenditure per trip fell by €19 or 3.2%. Net receipts from travel services accounted for 90.5% of total net receipts from services and more than offset (202.6%) the goods deficit.

In January-August 2018, the balance of travel services showed a surplus of €10,347 million, up from a surplus of €9,312 million in the same period of 2017. This development is attributed to an increase, by 11.1% or €1,177 million, in travel receipts, which were only partly offset by higher travel payments, up by 11.1% or €142 million. The rise in travel receipts reflected an 11.6% increase in inbound traveller flows, as average expenditure per trip edged down by €1 or 0.2%. Net receipts from travel services offset 77.6% of the goods deficit and accounted for 78.9% of total net receipts from services.

Travel receipts

In August 2018, as mentioned previously, travel receipts rose by 1.4% year-on-year. In more detail, receipts from residents of the EU28 increased by 2.2% to €2,605 million, while receipts from residents outside the EU28 fell by 0.4% (August 2018: €937 million, August 2017: €941 million). The higher receipts from within the EU28 were driven by a 5.0% increase in receipts from euro area residents to €1,775 million, as receipts from residents of non-euro area EU28 countries dropped by 3.3% to €830 million (August 2017: €858 million). Among major countries of origin, receipts from Germany fell by 5.0% to €578 million and receipts from France dropped by 21.5% to €272 million. Receipts from the United Kingdom also decreased by 15.1% to €404 million. Turning to non-EU28 countries, receipts from Russia fell by 39.5% to €59 million, while receipts from the United States rose by 10.9% to €149 million.

In January-August 2018, travel receipts totalled €11,764 million, up 11.1% relative to the same period of 2017. This development was driven by a 14.4% increase in receipts from residents of the EU28, which came to €8,175 million, and a 4.6% increase in receipts from residents outside the EU28 which came to €3,302 million. In particular, receipts from euro area residents increased by 14.5% year-on-year to €5,215 million, while receipts from residents of non-euro area EU28 countries rose by 14.2% to €2.960 million (1). Specifically, receipts from Germany rose by 19.2% to €2,019 million, while receipts from France dropped by 8.3% to €732 million. Receipts from the United Kingdom also decreased by 4.3% to €1,450 million. Turning to non-EU28 countries, receipts from Russia decreased by 23.0% to €261 million, while receipts from the United States increased by 27.5% to €676 million.

Inbound traveller flows (2)

The number of inbound visitors in August 2018 rose by 4.8% year-on-year to 6,093 thousand. Specifically, visitor flows through airports increased by 10.7%, whereas visitor flows through road border-crossing points declined by 4.1%. This increase in flows was due to higher visitor flows from within the EU28 (up 8.7%), as visitor flows from outside the EU28 declined by 4.2%. In greater detail, the number of visitors from within the euro area increased by 13.6% to 2,526 thousand, while visitors from the non-euro area EU28 countries also rose, by 2.7% (August 2018: 1.890 thousand, August 2017: 1,841 thousand). Specifically, the number of visitors from Germany rose by 4.8% to 773 thousand, while visitors from France fell by 8.0% to 354 thousand. The number of visitors from the United Kingdom also decreased by 6.7% to 529 thousand. Turning to non-EU28 countries, the number of visitors from Russia dropped by 32.2% to 97 thousand, whereas the number of visitors from the United States rose by 13.3% to 148 thousand.

In January-August 2018, the number of inbound visitors rose by 11.6% to 21,088 thousand (January-August 2017: 18,896 thousand). Specifically, visitor flows through airports increased by 14.1%, while visitor flows through road border-crossing points increased by 7.6%. In the period under review, the number of visitors from within the EU28 rose by 17.1% year-on-year to 14,999 thousand, while the number of visitors from outside the EU28 edged up by 0.1% to 6,090 thousand. Visitors from within the euro area rose by 17.8%, while visitors from the non-euro area EU28 countries increased by 16.2%. Specifically, the number of visitors from Germany increased by 26.4% to 2,906 thousand, while the number of visitors from France increased by 3.6% to 1,110 thousand. The number of visitors from the United Kingdom remained unchanged at 2,085 thousand. Finally, turning to non-EU28 countries, the number of visitors from Russia fell by 18.0% to 374 thousand, whereas the number of visitors from the United States rose by 29.7% to 709 thousand.

Note: The next Press Release on “Developments in the balance of travel services” for September 2018 will be published on 21 November 2018.

(1) The initial version of the Press Release incorrectly stated that in the period January-August 2018 receipts from residents outside the EU28 decreased year-on-year by 36.7% to €1,997 million and that receipts from residents of non-euro area EU28 countries increased year-on-year by 16.1% to €3,008 million. In the present version, these errors have been corrected.

(2)Inbound traveller flows exclude cruise passengers (other than those recorded in the Border Survey).